Motorists expands data security breach service, will reimburse costs associated with notifying customers
COLUMBUS, Ohio (January 15, 2009) – More than 9 million people in the U.S. have their identity stolen every year, and the business costs of repairing the damage can run into the millions. Motorists Mutual Insurance Co. (www.motoristsgroup.com) is helping its policyholders guard against identity theft and minimize the financial impact if a breach occurs.
The company introduced its Security Breach Response Service provided by Identity Theft 911®, America’s leading provider of identity theft and data
breach resolution and education services, to commercial clients in 2008 and is now enhancing the offering.
In addition to the security breach response service we provide commercial policyholders at no additional cost, Motorists will reimburse businesses for costs incurred up to $5,000 annually to notify their customers about a security breach. This service, effective March 15, will be provided at no additional charge.
“It can be extremely expensive for a business to carry out the legal requirements in the wake of a data security breach,” says Tamy Stephens, Motorists Mutual vice president of Commercial Lines. “We are giving businesses, at no charge, the means and support to protect their customers’ confidential information.”
Reimbursement would apply to:
- Cost of notifying affected customers that their personal information may have been compromised.
- Credit monitoring for businesses’ affected customers.
- Other miscellaneous expenses associated with a breach.
For instance, this reimbursement pays for any mailing costs or credit monitoring businesses would provide for their customers. There is no deductible and no charge for this reimbursement. Policyholders just need to submit their claim to Motorists.
“This service provides additional peace of mind during what can be a very stressful experience,” says Grady Campbell, vice president of Motorists Mutual Property and Casualty Marketing. “This helps our policyholders take additional measures above what’s required by law to keep an eye on the situation. For instance, businesses aren’t legally required to offer credit monitoring for their customers, but if they chose to, we’ll step up and help them cover the cost.”
About Motorists Mutual Insurance Company
It is the lead company in The Motorists Insurance Group based in Columbus, Ohio. The group of companies is composed of nine property and casualty, life and brokerage companies that operate in 38 states. At year-end 2007, the group of companies had $622 million in net written premium and $702 million in policyholder security funds. For more information, visit www.motoristsgroup.com.
Motorists Mutual Insurance Co. was established in 1928. It is a major regional insurer that writes property and casualty lines of business. Motorists’ products are sold by a network of more than 4,000 independent agents in a market of more than 46 million people.
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